Beasley, among other things, is charged with soliciting a bribe from a wealthy Alabama businessman, Donald Watkins, over a dinner at the MGM Grand in the form of a $100,000 donation to the Kilpatrick Defense Fund.

Beasley sat on the board of Detroit's two retirement systems, the General Retirement System and the Police and Fire Retirement System.

Watkins refused, stating in the transcript, "I'd rather lose a company than lose my reputation," and his failure oblige, he claims, led to a $30 million lawsuit that bankrupt his company, The Detroit News reports.

The government alleges that in a separate instance Beasley accepted $250,000 to steer $44 million in pension investments and a $1 million maintenance fee to another money manager.

The federal indictment claims Beasley additionally received complimentary stays at the Antheneum Hotel for himself and his "paramour" (lover) and a fully paid vacation to Miami in exchange for his support.